Yes I am aware of it. Wifi module is a weak point in every device but gps module is even worse - I would rather see no gps module on the privacy phone. It can be removed by the specialists though
When you put a fligh mode on, the phone can still be located, the same applies to to the mobiles powered off (standby mode)
The only protection is a removable battery or killswitches or faraday bag each with caveats
If the pixel phones had hardware kill switches we might have an amazing device powered with graphenos but none of them is perfect and never will be.